What is a Requote in Forex? A Complete Guide for Mongolia Traders (2026)

What Exactly is a Requote?

In forex trading, when you place a market order, you expect it to fill at the current price. However, if the market moves quickly, your broker may not be able to execute at that price. Instead, they send a requote — a new price that you can accept or reject. This is different from slippage, where the trade executes at a different price automatically.

How Does a Requote Work?

When you click 'Buy' or 'Sell' on a currency pair like USD/MNT (Mongolian Tugrik), your order goes to your broker's server. If the price has changed by the time it arrives, the broker sends a requote window showing the new price. You then decide to accept or cancel. For Mongolia traders, this can happen frequently during Asian session overlaps or major economic news releases.

Why Requotes Matter for Mongolia Traders

For retail forex traders in Mongolia, requotes can lead to missed opportunities or higher entry costs. If you're trading USD 1,000 and get a requote with a 2-pip difference, that's USD 2 extra cost per trade. Over many trades, this adds up. Using USDT deposits doesn't prevent requotes, but choosing a broker with ECN or STP execution can reduce them. Always check your broker's execution policy before funding with Bank Transfer or Skrill.

For Mongolia traders, requotes are particularly relevant because many local brokers operate with standard market execution, which is prone to requotes. If you fund your account via Bank Transfer (which can take 1-3 business days), you may miss fast-moving markets and face requotes when you finally trade. Skrill and USDT deposits are faster but still don't affect execution speed. The local financial authority does not specifically regulate requote practices, so traders must choose brokers carefully. Always test a broker's execution speed with a small deposit before committing larger funds.

1. Check Your Broker's Execution Type
   Before depositing via Bank Transfer or Skrill, confirm whether your broker offers market execution (prone to requotes) or instant execution (requires price confirmation).
2. Use Limit Orders Instead of Market Orders
   Limit orders guarantee your price or better, avoiding requotes entirely. This is especially useful when trading USD pairs from Mongolia.
3. Trade During High Liquidity Hours
   The London-New York session overlap (8 PM to midnight Ulaanbaatar time) offers the most liquidity, reducing requote chances.
4. Set Slippage Tolerance in Your Platform
   Many platforms like MetaTrader 4 allow you to set maximum slippage. This can auto-accept requotes within your tolerance, saving time.

Requotes are different from rejected orders. A rejected order means the broker cannot fill your trade at all — often due to margin issues or market closure. A requote offers a new price. For Mongolia traders, requotes are more common than rejections because brokers prefer to offer a new price rather than lose your trade. Compared to slippage, requotes give you control but cost time. If you scalp or trade frequently, slippage is often better because it's instantaneous. Always choose your execution type based on your trading style.

When you place a market order for a USD pair from your trading platform in Mongolia, your order is sent to your broker's server. If the price has changed by the time it arrives — due to market volatility or internet latency — the broker cannot fill your order at the original price. Instead, they send a requote with a new price. You then have a few seconds to accept or reject. This process is common for retail traders in Mongolia, especially those using standard accounts with Bank Transfer deposits. The faster your internet and the closer your broker's server, the fewer requotes you'll face.

Imagine you are trading USD/MNT and the current price is 3,400. You place a market buy order for USD 1,000. Due to a sudden economic report, the price moves to 3,402 before your order reaches the broker. You receive a requote at 3,402. If you accept, you pay USD 2 more per lot. Over 100 trades, that's USD 200 extra cost. Another example: You use Skrill to deposit USD 500 and trade EUR/USD during the Asian session. Because liquidity is low, requotes happen frequently. By switching to a broker with ECN execution and depositing via USDT for speed, you reduce requotes significantly.

The local financial authority in Mongolia does not have specific rules about requotes or execution speed. This means Mongolia traders must rely on international regulations for protection. Brokers regulated by the FCA (UK), CySEC (Cyprus), or ASIC (Australia) have stricter execution policies and often prohibit requotes on certain account types. Always verify your broker's regulatory status before depositing via Bank Transfer, Skrill, or USDT. If a broker is unregulated, you have no recourse if requotes cause losses.

• Test with a demo account: Before depositing with Bank Transfer or Skrill, test your broker's execution speed on a demo account to see how often requotes occur.
• Avoid news trading: Major USD news events like NFP or FOMC cause high volatility. Requotes are almost guaranteed during these times.
• Use a VPS: A virtual private server (VPS) near your broker's server reduces latency and requote frequency for Mongolia traders.
• Check broker reviews: Look for Mongolia-specific broker reviews that mention requote frequency and execution quality.
• Negotiate with your broker: Some brokers offer better execution for larger accounts. If you deposit USD 5,000+, ask about requote policies.

Requotes are a natural part of forex trading, but they don't have to ruin your strategy. For Mongolia traders, the key is to choose a broker with fast execution, trade during liquid hours, and use limit orders when possible. Before depositing with Bank Transfer, Skrill, or USDT, test your broker's execution with a small amount. If you experience excessive requotes, consider switching to an ECN broker. Start by checking our broker comparison for Mongolia to find a broker with transparent execution policies.